Wal-Mart-owned Asda’s Chief Executive Andy Bond said it hasn’t become “boring” and is approaching 2010 in an aggressive mood with a raft of new initiatives, Retail Week reported. Bond outlined a “new chapter for future growth” last week, which included a return to Everyday Low Prices, a push to open smaller stores, bolstering non-food and ramping up online.

Bond said he is comfortable with Asda’s Christmas performance, but admitted that it has been hit by the intense promotional tactics of its rivals, which “clouded our EDLP strategy”, but also said Asda suffered from the snow more than any of the other grocers as many of its stores are out of town.

A key part of Asda's plan is to refocus around its EDLP proposition. Bond says his three rivals are guilty of employing "weapons of mass distraction" when it comes to pricing, while Asda charges a consistent low price. "In times of falling inflation, suppliers invest more in promotions rather than investing in reducing the base price of their products," said Bond. "This type of promotional activity benefits high-low retailers that are less interested in lowering real prices."

Bond said Asda will cut down on promotions and instead spend that money on lowering prices across the board. He says: "The level of promotions is a problem for everyone but, for a brand built on EDLP, we need to push back on this activity and our suppliers are very supportive."

Bond denied that Asda was hit over Christmas by not having a loyalty card. Both Tesco and Sainsbury’s upped the ante on loyalty over the festive season. "There's no evidence those without loyalty cards have suffered as over the past 12 months Morrisons and Asda have shown the most growth of the big four and we are the two without cards," he said.

He insists the unprecedented voucher campaign that Asda ran in January was to win back customers who had struggled to get to its stores in the snow. "I will do things in the short term that I think are right but I want to be judged over the long term," he said.